The Funnel Explorer helps you understand and analyze the performance of your conversion funnel, including the length of time it takes customers to convert, daily conversion trends, and the value assessment of customers based on their conversion characteristics. The goal is to gain a deeper understanding of your conversion funnel and uncover new insights into your customers' behavior.
Additionally, this page enables easy identification of the most valuable customers by any customer attribute, utilizing Optimove’s proven future value prediction technology.
Using the Funnel Explorer
Start by specifying your desired Initial Stage (either Visit or Registration) and Final Stage (either Visit, Registration, or Deposited). Next, select the desired date range to analyze.
For example, by selecting the conversion type of Registration » Deposited, you can review the conversion funnel of all visitors who made their first purchase during the period chosen.
While analyzing the Registration » Deposited funnel, you can filter the data according to your site filter, which exists across Optimove’s pages. Note that this filter is not available when the selected Initial Stage is visited.
The first section of the report presents key funnel metrics for the selected period, together with a daily trend overview, allowing you to review the chosen period more granularly.
In the next section, you can gain insights into the time it takes for customers to make their first order/deposit after registration.
Assess Customer Value
The final section on this page provides an in-depth analysis of customers who converted during the selected period, examining their various characteristics.
This analysis is commonly used to inform data-driven decisions about where to focus advertising efforts. Understanding the effectiveness of each acquisition marketing channel can help you determine how much to allocate for each channel to acquire new customers.
This analysis is also valuable for focusing on specific customer attributes, such as country and device, that correlate with conversions. Select these attributes using the options on the left side of the page. (Note that your CSM can customize the specific customer attributes available for selection here to include any attributes available within your Optimove customer database.)
For example, by selecting UTM Source from the list on the left, you can see the sources that generated the highest conversion rates during the chosen period, and compare the average customer LTV by source.
In the above example, each bar represents lifetime value across different UTM sources, and the trend line represents the conversion rate observed during the selected period.
As seen in the bar chart and in the table below, 8,763 visitors came via Facebook, among them 573 (6.5%) who made their first purchase during the selected period, with an average predicted lifetime value of $322 (the sum of the $203 average past value plus $119 in predicted average future value).